Thirty-year loans across the country dipped to 6.64 percent, breaking last week's record low of 6.66 percent, Freddie Mac reported. Freddie Mac has run its weekly survey for 27 years. In that time, average loans have never been lower than they are now, the home financier reported.

Thirty-year loans had fees and points of 1, up from average fees and points of 0.9 last week.

Fees and points are charges consumers must pay when they take out their loans. Each point equals 1 percent of a loan's value.

Fifteen-year rates hit five-year lows of 6.32 percent, down from 6.35 percent last week. Average 15-year rates haven't been that low since Oct. 1993, Freddie Mac reported. The loans' average fees and points were unchanged at 0.9.

One-year adjustable rates, which have fallen out of favor with homeowners who've opted for low fixed-rate loans, squeaked down to 5.42 percent. A week ago, the average one-year loan was 5.43 percent. Fees and points stayed steady at 1.1.

Widespread speculation that the U.S. Federal Reserve may cut interest rates next week helped push mortgage rates down again. An interest rate cut would probably send mortgage loans even lower, though some arguedthe loan rates have already fallen significantly on interest-rate cut anticipation and a strong bond market.

"I'm not sure (a cut) would have a very big effect on mortgage rates," said Freddie Mac's Chief Economist Robert Van Order.

Mortgage loans have spiraled down this year as the stock market's volatility pushed shaky investors into the safety of U.S. Treasury bonds. (See .)

Thirty-year mortgage rates hovered slightly higher than 7 percent for much of the year but broke that barrier in mid-June and have since plummeted. On June 18, the average nationwide loan was 6.94 percent.

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